FHA CONDO

What is it?

FHA Condominium Loans are specifically geared toward those who purchase housing units in a condominium building. Condominium ownership, in which separate owners of individual units jointly own the development’s common areas and facilities, is for some a very popular alternative to home ownership. 

Multiple Product Options

  • No more than 50% of the units can be investor-owned / rentals.
  • No more than 50% of the property can be used as commercial space
  • No more than 15% of units can be delinquent in their HOA assessments for more than 60 days
  • No more than 50% concentration of FHA Loans within the community
  • Properties with more than 20 units, no single investor, entity, or related party may own more than 10% of the units within the project.
  • Properties with 20 units or less, no individual owner, entity, or related party may own more than one unit.
  • Reserve requirements may apply
  • Insurance requirements may apply

Loan Options

Resources
Rapid Rate Quote
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